Sec. 78. A public utility, as defined in section 1 of this chapter, may, with the approval of the commission, issue stock, certificates of stock, bonds, notes, or other evidence of indebtedness payable at periods of more than twelve (12) months after the date thereof, for the purpose of and to the extent required for obtaining funds sufficient for:

(a) the acquisition of property, material, or working capital;

Terms Used In Indiana Code 8-1-2-78

  • Commission: as used in this chapter , means the commission created by IC 8-1-1-2. See Indiana Code 8-1-2-1
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • public utility: as used in this chapter , means every corporation, company, partnership, limited liability company, individual, association of individuals, their lessees, trustees, or receivers appointed by a court, that may own, operate, manage, or control any plant or equipment within the state for the:

    Indiana Code 8-1-2-1

  • Utility: as used in this chapter , means every plant or equipment within the state used for:

    Indiana Code 8-1-2-1

(b) the construction, completion, extension, or improvement of its facilities, plant, or distributing system;

(c) the improvement of its service;

(d) the discharge or lawful refunding of its obligations; or

(e) the reimbursement of its treasury for money actually expended from income, or from any other money in the treasury of the public utility, for such purposes, not secured or obtained from the issue of stock, bonds, notes, or other evidence of indebtedness of such public utility, where the applicant shall have kept its accounts and vouchers of such expenditures in such manner as to enable the commission to ascertain the amount of money so expended and the purpose for which such expenditure was made.

Formerly: Acts 1913, c.76, s.90; Acts 1939, c.19, s.2; Acts 1941, c.37, s.2. As amended by P.L.59-1984, SEC.34.

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